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Fortune
Fortune
Eleanor Pringle

Read Bill Gates's 2026 annual letter in full

Bill Gates pictured in New York, May 2025. (Credit: Bruce Glikas/WireImage - Getty Images)

Microsoft co-founder Bill Gates is a seasoned optimist. Even then, 2025 proved an especially difficult pill to swallow.

After dedicating decades of his life to philanthropic endeavors, and pledging virtually all his wealth to humanitarian aid around the world, Gates could only watch from the sidelines as the U.S. government cancelled foreign aid contracts under a second Trump administration.

The 70-year-old tech titan has been critical of these decisions, warning it could lead to the death of children. He has also sought to speak directly to President Trump about why the American government should continue funding life-saving programs around the world, and believes there is time yet to get the world “back on track.”

In his 2026 annual letter, Gates wrote that while he remains upbeat about the future, his optimism now comes with footnotes. He questioned whether generosity would grow in line with an increasingly wealthy global population, and whether innovation will be scaled in way which improves equality.

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